Shoppers Stop LimitedQ2 FY27 Results & Financial Update
Shoppers Stop Limited: Q2 FY27 consolidated results and company financials – revenue ₹1,366.27 Cr, PAT ₹3.11 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Shoppers Stop Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the second quarter of fiscal 2027, Shoppers Stop reported consolidated total revenue from operations of INR 1,366.27 crore, with total income reaching INR 1,389.15 crore when including other income items.
The company recorded a profit before tax of INR 4.13 crore for the quarter. After accounting for tax expenses of INR 1.02 crore, consolidated net profit for the period settled at INR 3.11 crore.
Basic and diluted earnings per share for the quarter stood at INR 0.28, reflecting the modest bottom-line earnings generated during the period relative to the company's equity base.
Operating performance absorbed substantial overhead costs, including finance costs of INR 74.65 crore and depreciation and amortisation charges of INR 140.38 crore, which form a major part of the fixed cost structure associated with retail store operations and lease accounting.
Other income for the quarter contributed INR 22.88 crore to the financial results, providing some buffer to the operating margins alongside core retail sales.
Provisions for the quarter stood at INR 1.02 crore for taxes and INR 1.58 crore for other operational provisions, reflecting ongoing business adjustments during the reporting period.
Shoppers Stop Limited reported consolidated revenue from operations of INR 1,366.27 crore for the quarter ended September 30, 2026 (Q2 FY27), with total income standing at INR 1,389.15 crore.
The company posted a profit before tax (PBT) of INR 4.13 crore for the quarter, reflecting modest earnings after accounting for expenses.
01 · Business model
What does Shoppers Stop do?
Shoppers Stop Limited operates as a prominent retail chain in India, focusing on department stores and lifestyle apparel. The company curates a diverse portfolio of apparel, beauty products, home decor, and general merchandise, catering to mid-to-high income consumers across major urban markets.
The company's primary revenue engine relies on physical department store networks located in premium retail spaces and malls, complemented by digital and omnichannel shopping platforms. Its commercial model depends on inventory management, retail brand partnerships, and customer loyalty programs to drive repeat footfall.
Shoppers Stop engages with varied consumer demographics through its multi-brand format, offering both owned labels and major national and international brands. The business model bears significant fixed lease commitments and retail overheads, making top-line store productivity and footfall crucial for operating leverage.
02 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q2 FY27 |
|---|---|
| Revenue from operations | ₹1,366.27 Cr |
| Total income | ₹1,389.15 Cr |
| Profit before tax | ₹4.13 Cr |
| Profit after tax | ₹3.11 Cr |
| EPS | ₹0.28 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 0.2% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 0.3% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹22.88 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
The primary revenue stream of INR 1,366.27 crore is driven by retail sales across department store formats and lifestyle product categories.
Total income was supplemented by INR 22.88 crore in other income items during the quarter.
Revenue from operations reached INR 1,366.27 crore for Q2 FY27, driven by retail sales across departmental store formats.
Other income added INR 22.88 crore to the financial results, contributing to a total income of INR 1,389.15 crore for the quarter.
What drove margins
Depreciation and amortisation expenses of INR 140.38 crore reflect the heavy capital and lease asset footprint typical of large-format retail operations.
Finance costs amounted to INR 74.65 crore for the quarter, exerting a significant claim on operating earnings before bottom-line profitability.
Depreciation and amortisation expenses stood at INR 140.38 crore, while finance costs amounted to INR 74.65 crore, exerting notable pressure on net profitability.
Tax expenses for the quarter were recorded at INR 1.02 crore against a PBT of INR 4.13 crore, resulting in a positive net profit of INR 3.11 crore.
04 · Reported developments
What changed operationally
The company maintained a positive net profit position for the quarter, reporting a PAT of INR 3.11 crore and positive PBT of INR 4.13 crore.
05 · Items worth noticing
The line items that can distort a quick read
The company recorded provisions amounting to INR 1.58 crore during the quarter.
06 · Beyond the numbers
What changed beyond the numbers
Reported update
Regulatory filing submission
The financial results for Q2 FY27 were submitted through official structured exchange filings under Indian Accounting Standards.
Reported update
Regulatory Filing Submission
Financial results for the quarter ended September 30, 2026, were submitted through official exchange structured filings under IND-AS standards.
07 · Key Q&A
The quarter, answered directly
What does Shoppers Stop do?
Shoppers Stop Limited operates as a prominent retail chain in India, focusing on department stores and lifestyle apparel. The company curates a diverse portfolio of apparel, beauty products, home decor, and general merchandise, catering to mid-to-high income consumers across major urban markets.
What is the clearest takeaway from Q2 FY27?
During the second quarter of fiscal 2027, Shoppers Stop reported consolidated total revenue from operations of INR 1,366.27 crore, with total income reaching INR 1,389.15 crore when including other income items.
What drove revenue or demand?
The primary revenue stream of INR 1,366.27 crore is driven by retail sales across department store formats and lifestyle product categories.
What mattered most for margins or profitability?
Depreciation and amortisation expenses of INR 140.38 crore reflect the heavy capital and lease asset footprint typical of large-format retail operations.
What changed operationally beyond the headline numbers?
The financial results for Q2 FY27 were submitted through official structured exchange filings under Indian Accounting Standards.
What should the next disclosure help confirm?
Monitor future store additions, footfall recovery trends, and operating margin leverage across upcoming quarters.
08 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
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Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
09 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Sequential Store Performance: Monitor future store additions, footfall recovery trends, and operating margin leverage across upcoming quarters.
- 02
Cost Structure Management: Track the evolution of heavy lease, depreciation, and finance cost burdens relative to revenue expansion.
- 03
Subsequent Quarter Performance: Monitor upcoming quarterly financial filings to evaluate top-line momentum and cost management across store operations.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.